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Parallel Channel

A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.

A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
DianKemala DianKemala PRO DXY, 240,
DXY: DXY - USD pair outlook
906 1 16
DXY, 240
DXY - USD pair outlook

USD index broke middle line parallel channelup and hit resistance last week. In this week, we have coorection to 94.54 with maximum down at 0.618 fibonacci retracement at 49.12 This movement impact to all major pair with : EURUSD - Bullish GBPUSD - Bullish AUDUSD - Bullish NZDUSD - Bullish USDCAD - bearish USDCHF - Bearish USDJPY - Bearish Good luck ^_^

Twigger95 Twigger95 USDCHF, 240, Short ,
13 0 0
USDCHF, 240 Short
USDCHF Short Idea

USDCHF Short Idea. Descending channel, Reached the upper trendline and a resistance area.

andmk2 andmk2 PRO MCB, 1W, Short ,
MCB: McBride now bearish; more downside expected
10 0 0
MCB, 1W Short
McBride now bearish; more downside expected

McBride's now bearish Now outside of it's trend channel and below its 200 EMA

crooksy crooksy EURUSD, 240, Short ,
EURUSD: IMPORTANT long term channel resistance bounce!
42 0 4
EURUSD, 240 Short
IMPORTANT long term channel resistance bounce!

https://uk.tradingview.com/x/L6XMelKN/ waiting for a retest of resistant to go short and RSI in over sold territory. Although any sign of bearish momentum and I'm going short. Also DXY failed to break important 90.00 level this implies dollar weakness. SL 1.26000 Let profit run!

crooksy crooksy EURUSD, 240, Short ,
EURUSD: Retesting important long term channel resistance!
54 0 1
EURUSD, 240 Short
Retesting important long term channel resistance!

https://uk.tradingview.com/x/L6XMelKN/ Just waiting to see if retests resistance one more time before entering in a short position. SL 1.26000 going to let TP run until exhausted

jackjamesholmes jackjamesholmes AUDUSD, W, Short ,
AUDUSD: AUDUSD rising wedge/channel
24 0 0
AUDUSD rising wedge/channel

Not quite sure if we should call this a wedge or a channel, but AUDUSD has a long term pattern here and it is moving towards the support line. If the support line breaks then the move could continue to 0.7

jackjamesholmes jackjamesholmes EURUSD, W, Short ,
EURUSD: EURUSD long-term bearish channel
50 0 1
EURUSD long-term bearish channel

Massive downtrend channel, we are very near the top at the moment. Also approaching the sharp end of a massive triangle

andmk2 andmk2 PRO SXX, W,
SXX: Sirius Minerals has broken its trend channel
100 0 0
Sirius Minerals has broken its trend channel

Sirius has broken its upward trend channel and is at a crossroads. However, although stochastic is trending down another indicator, Bollinger Bands, is inconclusive. Wait and See.

UKMidas UKMidas SILVER, 60, Long ,
SILVER: Silver huge bull setup
139 1 6
SILVER, 60 Long
Silver huge bull setup

broke down from the trend that most would draw and assume a retracement or even bear however, even with a lower break out of the fib channel it will still be within a setup for a megaphone bull break out. Elliott wave analysis of the megaphone happened to be aligned with a 50% retracement of the December run at the end of wave 4 though this wave passes through the ...

veryrxre veryrxre AUDUSD, D,
47 0 1

https://uk.tradingview.com/chart/AUDUSD/L68Jm4OR-AUDUSD-LONG/ Following to target reached in the attached analysis, AUDUSD should complete ascending channel before any major reversal.

Preet_Bhamra Preet_Bhamra AUDUSD, 240, Short ,
AUDUSD: A high score short opportunity on AUDUSD 4H chart
15 0 0
AUDUSD, 240 Short
A high score short opportunity on AUDUSD 4H chart

From analysis, there is an ascending channel pattern formed along with bearish RSI divergence. Good indication that the market is running out of steam and bears could take over soon. On top of this, we have a cypher completion aswell. Price has come up to test previous resistance level. We can shoot for the 38.2% retracement for targets and place a stop loss ...

pardo269 pardo269 PRO GBPCHF, 240, Long ,
GBPCHF: GBPCHF Buy to Daily Flag Completion
44 0 0
GBPCHF, 240 Long
GBPCHF Buy to Daily Flag Completion

- Demand Zone - Fib Confluence - Channel Bottom Looking to buy this once more until it reaches the 61.8 of the Daily move, before a big drop.

zippy1day zippy1day PRO BTCUSD, 60, Long ,
BTCUSD: BTC Fibonacci Channel?
433 0 5
BTCUSD, 60 Long
BTC Fibonacci Channel?

A little update on BTC's possible direction using the Fib Channel tool? Short term after B Target : $15677

youraveragetrader youraveragetrader USDJPY, 240, Short ,
112 5 2
USDJPY, 240 Short

Hey, youraveragetrader here! - If you need more explanation, just comment your questions.

jon.poseidon jon.poseidon PRO BTCUSD, 240, Long ,
BTCUSD: BTC retrace targets
411 0 3
BTCUSD, 240 Long
BTC retrace targets

8818 - 9251 would be my guess, (38 - 61% retracement from latest rally). 8818 looks to coincide with the channel bottom - zoomed out view of same channel here https://uk.tradingview.com/x/87HrrmBD/.

BTCryptowatch BTCryptowatch PRO LTCEUR, D, Long ,
LTCEUR: Litecoin perfect place to position yourself, Buysignals
285 0 4
Litecoin perfect place to position yourself, Buysignals

Several triangle breakouts in the past and a ascending trading channel are in place to several months now on Litecoin. We are still located at the lower levels of these indicators and therefor a perfect spot to take positions. Break outside the bullish trading channe will acellerate the upward momentum rapidly. Based on historical date litecoin should climb a ...

BTCryptowatch BTCryptowatch PRO XBTUSD, 60, Long ,
XBTUSD: XBT final retracement to 6625 area
25 0 0
XBTUSD, 60 Long
XBT final retracement to 6625 area

weak divergence on 1H XBT USD, Possible decline to 6625 USD area before bounce up from bleu lower trendline part of the strong ascending trade channel in place since early September. In case of a breach of lower trendline we could see lows of max 6300 USD. A breach of 6300 could increase downward momentum. This can be our final retracement before we break 7900 ...

HamzahPatel HamzahPatel PSN, D, Long ,
PSN: Persimmon Imminent Bullish Reversal
59 0 1
PSN, D Long
Persimmon Imminent Bullish Reversal

After bouncing off its channel support with a rounded bottom, we are looking at the beginning of a bullish reversal. Within the oversold stochastic, there has just been a bullish crossover. The MACD is beginning to converge. Furthermore, it's still trading above the ichimoku cloud, which also acts as a support. To top it all off, the technicals lined up here have ...

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